LENMED AIR 2019.pdf

Lenmed’s 2019 Annual Integrated Report (AIR) covers the financial year 1 March 2018 to 28 February 2019. Here, we share the collective thinking applied to material matters impacting on our ability to create long-term value. Throughout the report, we address the challenges faced by the Group, and opportunities and external drivers influencing Lenmed’s strategy. About our Annual Integrated Report The financial information included in this report was prepared in accordance with IFRS, with PKF Durban independently assuring the annual financial statements. The Lenmed Investments Limited Board of Directors (the Board) did not deem it necessary to get independent assurance on non-financial information. Board responsibility The Board approved the AIR on 28 May 2019 and acknowledges its responsibility for the accuracy thereof. It has applied its collective expertise, and, in its opinion, this AIR addresses all material issues and presents an integrated view of the Group’s performance in the year under review. Forward-looking statements Readers are cautioned not to place undue reliance on forward-looking statements. Many of the statements in this AIR constitute forward- looking statements. These are not guarantees or predictions of future performance. As discussed in the report, Lenmed faces risks and other factors outside its control. This may lead to outcomes unforeseen by the Group. These are not reflected in the report. The forward-looking and prospects information contained in this report have not been reviewed or audited by PKF Durban. The report aims to provide a balanced and succinct view of Lenmed’s financial and non-financial performance and covers the Group’s operations in South Africa, Botswana and Mozambique. It provides information on Lenmed’s strategies for growth, efficiency, quality, sustainability, corporate governance and accountability. The information provided in this AIR has been guided by local and international requirements. These include the: + South African Companies Act 71 of 2008, as amended (Companies Act) + King IV™ Report on Governance for South Africa + International Integrated Reporting Council’s (IIRC’s) <IR> Framework + International Financial Reporting Standards (IFRS) Materiality This report was prepared on the basis of materiality. The process for determining and prioritising material matters, and our disclosure of these, is discussed on page 30. Disclosure and assurance Lenmed aims at the highest standards for all disclosures included in this report to provide meaningful, accurate, complete, transparent and balanced information to stakeholders. The Board, its committees and management were involved in finalising disclosures made in this AIR and assume responsibility for the information contained herein. Feedback on report We welcome your feedback on this report. Please email your comments to Vaughan Firman at [email protected] . LENMED ANNUAL INTEGRATED REPORT 2019 01